SCC(SZ:002916)2025-10-29 14:04Financial Performance - In Q3 2025, the company achieved a revenue of CNY 6.301 billion, representing a year-on-year growth of 33.25% [2] - The net profit attributable to shareholders reached CNY 966 million, with a year-on-year increase of 92.87% [2] - The net profit excluding non-recurring items totaled CNY 916 million, reflecting a growth of 94.16% year-on-year [2] Business Growth Drivers - The growth was primarily driven by opportunities in AI computing power upgrades, structural growth in the storage market, and the acceleration of automotive electronics [2] - Increased demand for AI chips, servers, and related products contributed to the rise in main business revenue [2] Gross Margin and Cost Management - The overall gross margin showed improvement in Q3 2025, aided by increased demand for storage packaging substrates and enhanced production capacity utilization [2] - The company’s PCB business maintained a high capacity utilization rate, with significant improvements in the packaging substrate business due to rising demand [5] Product Development and R&D Investment - R&D investment in Q3 2025 amounted to approximately CNY 464 million, accounting for 7.37% of total revenue [7] - The company is advancing various R&D projects, including next-generation communication and data center-related PCB technologies [7] Capacity Expansion and New Projects - The company is constructing new factories, including the Nantong Phase IV and a facility in Thailand, which are expected to enhance PCB production capacity [4] - The Thailand factory has commenced trial production, while Nantong Phase IV is set to start operations in Q4 2025 [4] Raw Material Price Trends - In Q3 2025, prices for key raw materials such as gold salt and copper increased due to fluctuations in commodity prices [6] - The company is actively monitoring international commodity price changes and maintaining communication with suppliers and customers [6] Packaging Substrate Business - The packaging substrate business saw a sequential revenue increase in Q3 2025, with notable growth in storage packaging substrates [3] - The company’s FC-BGA packaging substrates have achieved mass production capabilities for products with 20 layers and below [9]